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The Government of Ontario is asking both employers and employees for feedback on the proposed Ontario Retirement Pension Plan (ORPP).
The province plans to implement the ORPP in 2017. Its introduction will coincide with the expected reductions in employment insurance premiums, which it says will help to minimize the impact on employees and employers.
The ORPP is intended to help the two-thirds of Ontarians without a workplace pension plan and aims to provide a replacement rate of 15% of an individual’s earnings, up to a maximum annual earnings threshold of $90,000.
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More information about how to comment is on the government’s website.
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